Summary by Moomoo AI
Ping An Insurance's subsidiary, Lufax Holding Ltd, announced on September 27, 2024, that Morgan Stanley, on behalf of the joint offeror, will make a mandatory unconditional cash tender offer for Lufax shares. This offer includes the acquisition of all issued Lufax shares and American depositary shares, as well as the cancellation of all unexercised Lufax options. Comprehensive documents have been sent to independent Lufax shareholders and relevant holders on the same day, including offer details, expected timeline, and terms. The offer commencement date is September 27, 2024, with a deadline set for October 28, 2024. The Lufax board of directors and independent financial advisors have made recommendations to the relevant holders regarding this offer. The directors of Ping An Insurance, Lufax, and On Technology bear responsibility for the accuracy of the announcement and confirm no material omissions.
